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Editorial for your consideration - before election day
Based on laws in effect in 2000 and economic forecast trends, the Congressional Budget Office (CBO) projected a surplus of $3.496 trillion for the "Bush Years" from 2001-2008. Unfortunately, an ideology that does not work took hold with the election of GW and the projected surplus suffered under the impact of the Bush tax cuts. The first tax cut is known as EGTRRA, ("Economic Growth and Tax Relief Reconciliation Act of 2001"), for a total revenue loss of $805 billion dollars from 2001-2008. Next came the JGTRRA, ("Jobs and Growth Tax Relief Reconciliation Act of 2003"), that yielded an additional revenue loss of $318 billion. That's a total loss in revenue of $1.123 trillion rather than a surplus of $3.496 trillion over those 8 years. Tax cuts did nothing to stimulate the economy! How can we know that? The CBO also reports the "economy and technical impacts" had an additional loss of $1.449 billion over those 8 years.
Before the Bush controlled congress impacted the years from 2001-2008, the CBO had projected a surplus of $2.395 trillion for the years from 2009-2011. However, Republicans continued to stand on a faulty ideology and EGTRRA added an additional loss of $451 billion and JGTRRA added an additional loss of $11 billion in revenue for the period from 2009-2011. The Democrats are credited with the 2009 TARP bailouts at a cost of $189 billion. Analyze this! TARP cost us $189 billion and Tax Cuts over 11 years cost us $1.585 trillion. Do you know how many jobs could have been created with those tax cuts? How about 2 million, 641 thousand, 667 jobs at $60,000 salary per year for TEN YEARS. Over 2 million people who are underemployed or not working at all could have been spending in our economy and making our country strong. Hoarding tax cuts has made our country weak. Make a statement on election day. Your country and your job depends on it.
Source: www.cbo.gov/sites/default/files/cbofiles/ftpdocs/121xx/doc12187/changesbaselineprojections.pdf
Inside the Current Issue
Our front page this month features stories on the future of our Marines, a congressional reform petition and March on Washington that is planned for June 12, a visitation to the Loma Linda VA Hospital and a time sensitive notice of events that will be held on May 5.
Inside are stories on many other events in May including an annual rose show and community garden tour, a local baton champion who won again this year in a World competition, human interest stories on Politics (as you prepare to select your choices on the June ballot), Religion (what Hell is really like), how one local resident dealt with the loss of the love of his life, investing that includes website ideas for research or trying the game with play money, and many other stories for entertainment or education. New advertisers too and updates to some of the new offerings by long-time advertisers.
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